UK Oil & Gas Investments (GB:UKOG) has released an update.
UK Oil & Gas PLC (UKOG) has made progress in reducing its loan debt by issuing equity shares to its investors, RiverFort Global Opportunities PCC Limited and YA II PN Ltd. A total of 152,796,721 new shares have been issued, further decreasing the principal loan balance to £0.42 million, from the initial £2 million received. The newly issued shares are expected to be admitted to trading on the AIM market around 09 May 2024, increasing the company’s total voting rights to 3,813,754,613 shares.
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